Hyperfine transferred with Buy rating at B. Riley

B. Riley put a Buy rating on Hyperfine with a $1.70 price target following a transfer of coverage. The company is developing and commercializing Swoop as the first FDA-cleared portable MRI system that employs artificial intelligence and deep learning to generate high-quality images with lower magnetic field strength than traditional MRI, the analyst tells investors in a research note. The firm says that although the path to profitability remains an overhang for Hyperfine, disciplined and focused investment in generating clinical evidence is likely to translate into long-term growth.